At3:00 PM, the Federal Reserve released its September consumer credit report, and it was good. Credit expanded by $11.36 billion, which was more than the $10.17 billion expected by economists. Last month's figure was revised up to $18.391 billion from $18.123 billion.

It's worth noting that Apple's sell-off put the stock 20 percent below its recent high. Some pundits were quick to call it a "bear market." DoubleLine's Jeff Gundlach was on CNBC this morning saying that the stock could fall another 25 percent. "The product innovator, as I've said over and over again, isn't there anymore," he said.